If Park Bank is liable for not spotting Sujata "Sue" Sachdeva's $34 million embezzlement from Koss Corp., then so is chief executive Michael Koss, the bank argues in a new lawsuit.

In a suit filed last week, the bank argues that if a jury finds Park Bank liable for the loss, then Michael Koss and Grant Thornton, the firm's former auditor, should have to pay some of the award.

"Park Bank denies any and all liability to Koss in this case," Park Bank wrote in its action. "Nevertheless, should Park Bank be found liable to Koss (Corp.) and required to pay damages to Koss in this case those damages will have been the result of a common liability of Park Bank, Michael Koss and Grant Thornton, thereby entitling Park Bank to (a) contribution from Michael Koss and Grant Thornton."(3)

Amazon plans second Kenosha facility, 575 more jobs

Amazon.com Inc. plans to develop a second distribution center in Kenosha, a $62 million project that would add around 575 full- and part-time jobs.

A development firm hired by the Seattle-based online retailer has filed a proposal with city officials, said Zohrab Khaligian, of the Community Development Department.

The 500,000-square-foot facility would be built in conjunction with the 1 million-square-foot distribution center approved in October by the Common Council, Khaligian said Tuesday.

Both distribution centers will be built north of 38th St./Highway N and east of I-94, about 30 miles south of downtown Milwaukee.

The first distribution and order fulfillment center, with an estimated cost of over $200 million, is receiving $17 million from the city to pay for roads, sewers, water mains and other public improvements

It is expected to have around 1,100 jobs by 2015.

New York-based KTR Capital Partners, which is building the facilities and leasing them to Amazon, has filed a new proposal seeking to change the tax incremental financing district that covers the project site.

That new proposal is seeking a second grant of $5 million, Khaligian said. That will need Common Council approval.

Both grants will be repaid by property taxes generated by the distribution centers. Once the city's debt is paid off, within an estimated 10 years, the new property taxes will go to the city, its school district and other local governments.

Kenosha Mayor Keith Bosman said in October average wage will be just over $13 an hour for around 850 employees at the first distribution center.

The remaining employees will include technicians, computer programmers and managers, earning annual salaries ranging from around $50,000 to $250,000, Bosman said then.

Amazon also will receive up to $7 million in state tax credits in connection with the project, the Wisconsin Economic Development Corp. announced in November.

Commercial Real Estate News

A large industrial building, located on Milwaukee's north side, has been sold to a local investment group that plans to continue redeveloping the property.

An affiliate of Phoenix Investors LLC purchased a 206,200-square-foot portion of the former Square D industrial plant, 4041 N. Richards St., for $1.45 million, the firm announced Monday. It was sold by Stag II Glendale LLC, a subsidiary of Boston-based Stag Industrial Inc., in a transaction brokered by Robert Dufek of Dufek Realty LLC and Jim Larkin of Colliers.